Reply To: I didn't file gift tax return. Now what?

Home Fairmark Forum Other Tax Topics I didn't file gift tax return. Now what? Reply To: I didn't file gift tax return. Now what?

#4794
kaneohe
Participant

“But let me make one small change:
stock2: My cost basis was 12, the FMV per share at transfer was 10, he sold at 10.01. Now there is a loss using the donor’s basis but a gain using the FMV basis”

Now you are in I C) with a loss using one basis and a gain using the other. The IRS guidance from the link and chart is that there is no gain
or loss.